Kennedy-Wilson Bondholders Organize to Push Back on Tender Offer

A group of investors holding a majority of Kennedy-Wilson Inc. bonds plan to skip the company’s debt exchange offer and instead seek a cash payment, according to people familiar with the matter.

The group, which is being advised by law firm Milbank and investment bank Houlihan Lokey Inc., holds a majority of each of the three series of senior bonds that the real estate investment firm is seeking to exchange, the people said, asking not to be identified discussing private information.